Video Monkey is a Mac-only application for the conversion of video between a variety of formats. It borrows concepts from the great, but now defunct Video Hub software.
While they probably mean VisualHub, I'm not sure this is using it's open sourced code. Video Monkey, which I didn't try yet is only at version 0.1 as of this post so it's something to watch but not something to rely on day to day.
I didn't install it because it comes wrapped up in a .pkg file and I've never liked installers exploding files all over the place, although the installer just as the application within it. So, I extracted it via Pacifist and here are the screenshots:
As you can see lots of export options are greyed out and there are the handy "Check Box 1" and "Check Box 2" already checked for you. If the developer keeps this app updated and actually adds in all the greyed out export options this could be the next VisualHub. However, my first test failed when it failed to recognize a .flv I dragged into it.